Riyadh – Mubasher: Al Alamiya for Cooperative Insurance Company announced renewing an insurance agreement with Riyad Bank.

The agreement entails insurance coverage for Riyad Bank’s auto leasing programme, the insurance firm said in a statement to the Saudi Stock Exchange (Tadawul) on Monday.

Al Alamiya for Cooperative Insurance expects this agreement to positively impact its financial results as it will generate approximately SAR 45 million ($12 million) in total gross written premium (GWP) during its one-year duration.

The firm signed the deal on Thursday, 18 October.